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NECC has received a letter of acceptance (LoA) from the GAIL (India) Ltd, a top central public sector undertaking under the Ministry of Petroleum and Natural Gas.
NECC reported a 50 per cent rise in the net profit on a year-on-year (YoY) basis to Rs 1.48 crore in the June 2023 quarter, which stood at Rs 0.96 crore in the year ago period.
The right issue Committee of NECC approved the allotment of 4,51,77,602 equity shares with a face value of 10 each for cash at an issue price of Rs 18 each.